| |
TI2 and Dale, 60 cents vs 57 cents expected.
biz.yahoo.com
The Street is not impressed so far.
John Edmondson, president and CEO of West Marine, stated, ''The main focus of the first half of 1999 has been fixing the operational problems that hurt our performance last year, which included distribution accuracy, in-stock performance, merchandise selection, and inventory ROI. We have made steady progress toward resolving these issues, however, we are still experiencing some supply chain challenges as a result of the significant process changes we have put in place.
''Merchandise selection and performance have improved as inventories declined over $11 million compared to the same period end last year.
''In addition, we recently added Mike Edwards to our senior management team. Mike has over fifteen years of world class retail experience. As Executive Vice President and General Merchandise Manager, Mike will oversee West Marine's product selection, category management and vendor relations activities. Mike rounds out our team of high impact players and we are confident he will make significant contributions to improve our supply chain management.
''During the second quarter, we implemented a national marketing campaign through cable television networks such as ESPN and ESPN2 and various national boating periodicals. These efforts resulted in improved sales.
''In early July, we rolled out our new website under www.westmarine.com. This new and improved website has been developed to be a 'virtual community' for boaters of all kinds. The site includes 'Boating Features,' our renowned 'West Advisors,' and a chat page hosted by various boating experts. More importantly, it includes a much improved e-commerce portal that is user friendly and includes over 8,000 images.''
Gottfried |
|
